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1 – 10 of over 102000Pauli Autio, Lauri Pulkka and Seppo Junnila
The aim of this paper is to introduce a framework that helps to identify strategic themes on which real estate investors form their strategies. A holistic approach to strategic…
Abstract
Purpose
The aim of this paper is to introduce a framework that helps to identify strategic themes on which real estate investors form their strategies. A holistic approach to strategic management in real estate management has enjoyed popularity in corporate real estate research, while similar research has been lacking from the investor-based real estate management.
Design/methodology/approach
The research design consists of two main parts: 1) formulating propositions based on existing literature and 2) attempting to validate the propositions through a qualitative interview study with major real estate owners in Finland.
Findings
The main finding is that the current real estate investors reflect the transient nature of competitive advantages and assess their strategies accordingly. The companies consider the traditional profitability and revenue growth aspects of their business but also a more long-term future growth dimension. As an outcome, the investors base their strategies on eight strategic themes which are “Innovation”, “ESG”, “Marketing and sales”, “Financial management”, “Leasing management and tenant satisfaction”, “Competitive environment and portfolio management”, “Outsourcing and strategic partnerships” and “Cost and operation optimization”.
Research limitations/implications
This paper opens opportunities for future research concerning different strategies in real estate investment business and their impacts.
Practical implications
The presented framework provides support for real estate investors to create real estate management strategy or to evaluate their current strategy and to recognize operational actions and decisions that are relevant for their strategy.
Originality/value
This paper provides an extension to corporate real estate (CRE) literature by showing that the CRE theories are adaptable to real estate investment and provide value for their strategic management. This paper also contributes to real estate investment literature by providing a well-founded and empirically contested strategic management framework, the IREM framework, for identifying strategic themes on which real estate investors form their strategies.
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Payyazhi Jayashree and Syed Jamal Hussain
Change literature emphasizes the significance of aligning change at a systemic level for sustained effectiveness of strategic change initiatives. While this body of literature…
Abstract
Purpose
Change literature emphasizes the significance of aligning change at a systemic level for sustained effectiveness of strategic change initiatives. While this body of literature emphasizes the significance of psychological and process dimensions of managing change, research on an integrated and strategic approach to deploy, track, measure and sustain large‐scale changes has been limited and inconclusive. The purpose of this paper is to address this gap in the literature to propose a holistic conceptual framework for identifying, formulating, deploying, measuring, aligning and tracking strategic changes in organizations.
Design/methodology/approach
Specifically, core concepts drawn from scholarly literature and practitioner writings from distinct fields of change management and strategy deployment tools, primarily the Balanced Scorecard (BSC) as proposed by Kaplan and Norton, are reviewed, synthesized and critiqued, to inform and advance the integrated framework proposed.
Findings
The suggested approach draws significantly from the BSC framework and focuses on the use of formal steps such as developing change themes and results, setting change objectives, developing lead and lag performance measures for measuring strategic change objectives. Furthermore, the proposed framework also provides directions on how to track the progress of change initiatives with respect to the desired objectives, for evaluating the effectiveness of change deployment efforts, all through applying cause and effect linkages.
Research limitations/implications
Although the focus on individual change arose to support technical deployment of change, over the years the strategic deployment process itself has not received the desired focus in the change strategy literature. The proposed framework extends the current literature on strategic change to offer academics fresh insights on the significance of a strategic approach to change deployment. An application of the framework in the context of large‐scale transformational changes in organizations can provide further evidence related to the validity of the proposed approach.
Practical implications
A total of 70 percent of all change efforts fail. While some fail due to incomplete diagnoses, others fail due to gaps in deployment or measurement. However, there is uncertainty about how to prevent change failure, with no one having explicitly articulated the same. A rigorous and practical approach to systematically deploy change with a continuous focus on strategic alignment has specifically been found missing in the literature. The proposed framework fills this gap to offer managers and organizational decision makers a holistic and practical tool to successfully navigate the complexities of their strategic change efforts by measuring strategic alignment in a step‐wise manner throughout the change process.
Originality/value
Mention of the need to use integrated and strategic performance management tools, such as the BSC proposed by Kaplan and Norton, to measure and review change and to manage the change process has been found in recent literature. However, no studies have yet provided any direction on “how” to use such integrated and strategic tools throughout the change process, to deploy measure and ensure continuous strategic alignment during transformational changes. The paper addresses this gap to propose a systematic, integrated and holistic approach for aligning change deployment.
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Grace K.S. Ho, Carmen Lam and Rob Law
The purpose of this study is to develop a holistic resilience framework and its contributing factors for organizations in the hospitality and tourism industry for coping with…
Abstract
Purpose
The purpose of this study is to develop a holistic resilience framework and its contributing factors for organizations in the hospitality and tourism industry for coping with uncertain environments, such as those brought about by the COVID-19 pandemic.
Design/methodology/approach
This conceptual paper is based on a broad review of the literature on organizational resilience and strategic leadership. A conceptual framework is developed and discussed.
Findings
This study develops a holistic “strategic leadership-enhanced organizational resilience framework” that addresses the actions and mindsets required by hospitality and tourism organizations to attain organizational resilience and health.
Research limitations/implications
This study fills the research gap in corporate resilience frameworks for hospitality and tourism. This study has practical implications for the industry by suggesting specific actions that companies can take to enhance their organizational health and resiliency under environmental uncertainty.
Originality/value
Previous studies suggested only partial strategic resilience responses. This study constructs a holistic “strategic leadership-enhanced organizational resilience framework” in the hospitality and tourism context.
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This study aims to predict artificial intelligence (AI) technology development and the impact of AI utilization activity on companies, to identify AI strategies dealing with the…
Abstract
Purpose
This study aims to predict artificial intelligence (AI) technology development and the impact of AI utilization activity on companies, to identify AI strategies dealing with the broad innovation activity of AI, and to construct the strategic decision-making framework of AI strategies for a small- and medium-sized enterprise (hereafter SME), to improve strategic decision-making practices of AI strategy in SMEs.
Design/methodology/approach
This study used the multiple methods on the design of two data collection stages. The first stage is an expertise-based approach. It organized the three groups of expert panels and conducted the Delphi survey on them in combination with the brainstorming of technology, innovation and strategy in the fourth industrial revolution. The second stage is in the complement approach of expertise-based results. It used the literature review to involve the analysis of academic and practical papers, reports and audio materials relating to technology development, innovation types and strategies of AI. Additionally, it organized the four semi-structured interviews. Finally, this study used the mind-map and decision tree to conduct each analysis and synthesize each analytical result.
Findings
This study identifies the precondition and four paths of AI technological development classifying into specialized AI, AI convergence with other technologies, general AI and AI control methods. It captures the impact of non- and technological innovation through AI on companies. Second, it identifies and classifies the six types of AI strategy: the bystander, capability-building, capability-holding, management-enhancing, market-enhancing and new-market-creating strategy. By using the decision tree, it constructs the strategic decision-making framework containing six AI strategies. Actionable points, strategic priorities and relevant instruments are suggested.
Research limitations/implications
The strategic decision-making framework covering from AI technology development to utilization in a SME can help understand the strategic behaviours in SMEs. The typology of six AI strategies implies the broad innovation behaviours in SMEs. It can lead to further research to understand the pattern of strategic and innovation behaviour on AI.
Practical implications
This practical study can help executives, managers and engineers in SMEs to develop their strategic practices through the strategic decision framework and six AI strategies.
Originality/value
This practical study elicits the six types of AI strategy and constructs the strategic decision-making framework of six AI strategies from AI technology development to utilization. It can contribute to improving the practices of strategic decision-making in SMEs.
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Tanya Sammut‐Bonnici and Sotirios Paroutis
This paper aims to lay the foundations to develop a dominant logic and a common thematic framework of strategic innovation (SI) and to encourage consensus over the field's core…
Abstract
Purpose
This paper aims to lay the foundations to develop a dominant logic and a common thematic framework of strategic innovation (SI) and to encourage consensus over the field's core foundation of main themes.
Design/methodology/approach
The paper explores the intersection between the constituent fields of strategic management and innovation management through a concept mapping process. The paper categorizes the main themes and search for common ground in order to develop the core thematic framework of SI. The paper looks at the sub‐themes of SI in published research and develops a more detailed framework. The conceptual categories derived from the process are then placed in a logical sequence according to how they occur in practice or in the order of how the concepts develop from one other.
Findings
The results yield seven main themes that form the main taxonomy of SI: types of SI, environmental analysis of SI, SI planning, enabling SI, collaborative networks, managing knowledge, and strategic outcomes.
Research limitations/implications
The new thematic framework the paper is proposing for SI remains preliminary in nature and would need to be tried and tested by researchers and practitioners in order to gain acceptability. Academic rigor and methodological structure are not sufficient to determine whether our conceptual framework will become widely diffused in academia and industry. It would have to pass through an emergent, evolutionary process of selection, adoption and an inevitable degree of change and adaptation, just like any other innovation.
Practical implications
The practical implications concern the production of instructive material and the application of strategic management initiatives in industry. The proposed themes and sub‐themes can serve as a logical framework to develop and update publications, which have been instrumental in their own right to shape the field. The paper also provides a checklist of potential research projects in SI, which will improve and strengthen the field. The new framework provides a comprehensive checklist of strategic management initiatives that will help industry to initiate, plan and execute effective innovation strategies.
Originality/value
The concept mapping of the themes of SI yields a new dominant logic, which will influence the evolution of the field and its relevance to both academia and industry.
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– The purpose of this article is to suggest a framework to be used as a strategic planning tool for culinary tourism projects at destination level.
Abstract
Purpose
The purpose of this article is to suggest a framework to be used as a strategic planning tool for culinary tourism projects at destination level.
Design/methodology/approach
Based on theoretical background of strategic planning and Leiper’s tourism model, a conceptual tool is suggested. Its value is investigated through an empirical study that was performed, which employed a qualitative research method (discussion groups of experts).
Findings
The article suggests a framework to be used as a strategic planning tool for culinary tourism projects. The empirical study identified the merits, drawbacks and limitations of the framework to be taken into account. It can be used only in combination with other tools to achieve a comprehensive approach to designing, managing and marketing culinary tourism assets strategically.
Research limitations/implications
Because of its exploratory nature, the study has inherent drawbacks. The suggested framework should be finalised. Future studies could explore the perspective of visitors deeply and should also investigate the appropriate tools to be implemented at operational management level.
Practical implications
In the fields of strategic management and marketing, the study enhances a comprehensive approach. It contributes to positioning and analysing culinary tourism within the context of a whole destination system. It provides an additional tool for destination planners and managers to be used along with other tools in performing their tasks at strategic level.
Originality/value
It is the first study that suggests and empirically investigates a strategic planning tool at destination level, based on the theoretical backgrounds of strategic planning and tourism system. It provides an integrated approach incorporating the main issues to be dealt with in the field of culinary tourism.
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Arun Chockalingam, Shaunak Dabadghao and Rene Soetekouw
Basel III regulations require banks to protect themselves against strategic risk. This paper aims to provide a comprehensive and measurable definition of this risk and proposes a…
Abstract
Purpose
Basel III regulations require banks to protect themselves against strategic risk. This paper aims to provide a comprehensive and measurable definition of this risk and proposes a framework to estimate economic capital requirements.
Design/methodology/approach
The paper studies the literature and solicits expert opinion in formulating a comprehensive and measurable definition of strategic risk. The paper postulates that the economic capital for a bank’s strategic risk should be estimated using the cost of equity as the profitability threshold, rather than zero and develops a simulation-based framework to estimate economic capital.
Findings
The framework closely matches the actual economic capital outlay for strategic risk from our case study of ABN AMRO. It is shown that a bank’s strategic growth plans can fall into one of two scenarios based on risk-return characteristics. In one scenario, the required economic capital outlay will increase, and decrease in the other.
Practical implications
This framework is generalizable and makes use of widely accepted and used practices in banks, making it readily implementable in practice. It does not introduce errors resulting from model selection, parameterizations or complex calculations.
Social implications
Society would be worse off in the absence of banking and lending services. Banks need to take risks to grow and stay competitive. The framework facilitates better strategic risk management, protecting banks from collapse and reducing the need for taxpayer-funded bailouts.
Originality/value
The paper provides a measurable and practitioner-verified definition of strategic risk and proposes a simple framework to estimate economic capital requirements, a crucial topic, given the threats and increased levels of strategic risk facing banks.
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Denis Leonard, Renee Reid and Rodney McAdam
It is often claimed that existing quality models can represent the development of total quality management (TQM) within organisations. However, the more recent emergence of…
Abstract
It is often claimed that existing quality models can represent the development of total quality management (TQM) within organisations. However, the more recent emergence of critical perspective literature in this area has shown that these models lack both a strategic formulation influence and a dynamic influence for TQM in organisations. Seeks to combine these influences and to evaluate the role of the strategic dynamics of TQM within organisations. Thus, primarily aims to evaluate the strategic dynamics of TQM within case study organisations using an appropriate evaluative framework. A secondary aim is to perform a meta‐evaluation of this framework. The evaluative framework used for the study is Leonard’s grounded theory framework for TQM strategic dynamics. The model was applied to 57 case studies where a cross case analysis was used to guide the analysis. The findings show that the dynamics of TQM are much more complex and recursive than those shown by current models. Furthermore, the main influence of TQM in the cases was found to be at a tactical level and operational level. Those organisations, which applied TQM at a strategic level, were found to have robust TQM programmes with greater longevity, by using frequent regenerative approaches.
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A.A. Oni, C.K. Ayo, S. Oni and V.W. Mbarika
Information and communication technology has been identified as a viable tool to proffer solution to the societal problem of disconnect between democratic actors. The issue of…
Abstract
Purpose
Information and communication technology has been identified as a viable tool to proffer solution to the societal problem of disconnect between democratic actors. The issue of sustainability and citizens’ acceptance of online public participation, however, remains a major issue of concern requiring adequate attention. This study therefore aims to develop a strategic framework for e-democracy implementation and sustainability.
Design/methodology/approach
Systematic qualitative review using Grounded Theory Method was adopted to develop the e-democracy strategic framework.
Findings
The strategic framework is generic and has the potential to serve as a spring board for e-democracy implementation. It abstracts existing strategies and best practice that can be adopted to add value to e-democracy implementation. Using this framework, developing nations can take advantage of their present level of technological development to give voice to the voiceless and improve their democratic system.
Practical implications
E-democracy implementation should be backed up with policy framework which explicitly states the vision, objectives, policies guiding e-democracy implementation and the oversight bodies responsible for monitoring and evaluation. The implementation plan should clearly identify the implementation approach, levels of engagement, roles of various stakeholders and tools and technology to be involved. Government willingness to harness citizens input and commit resource to e-participation is of paramount importance.
Originality/value
The framework developed is useful for the e-democracy research community and government in executing successful e-democracy implementation and evaluating its impact on democratic outcomes.
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Sheshadri Vyankatrao Kulkarni and Mamata Jenamani
This paper aims to present a strategic framework for make‐or‐buy (MoB) decision‐making process and a case study based on the framework. This framework can be applied to all the…
Abstract
Purpose
This paper aims to present a strategic framework for make‐or‐buy (MoB) decision‐making process and a case study based on the framework. This framework can be applied to all the scenarios of MoB decision‐making that includes making decisions for new components and reevaluating the decisions for presently in‐sourced or outsourced components.
Design/methodology/approach
Based on this study of an Indian Automobile Company and review of the literature the paper proposes a strategic framework for MoB decision‐making. Unlike previous academic attempts, where a framework is developed first based on the existing theories followed by illustration through case studies, our approach starts with a case study, the paper then proposes a framework that best suits the company's need. Later the paper discusses the specific features of the framework that makes it applicable to other manufacturing sectors.
Findings
The sourcing decision‐making for any firm is a complex and dynamic process where, after stipulated period firms have to reevaluate their decisions. Existing frameworks treat both fresh and reevaluated decisions alike. It is found that the need for a framework with separate provision for outsourcing decision reevaluation. The paper identifies partial outsourcing as a strategic option to avoid supplier opportunism. It also explicitly suggests the exact decision point where risk evaluation is necessary during MoB decision‐making process.
Originality/value
The proposed framework takes a detailed and critical look at actual outcomes in terms of costs, competences and risk. Three important considerations adopted from the literature and incorporated in the proposed framework, makes it unique: provision for reevaluating the MoB decision, consideration of partial outsourcing as a strategic option other than purely making or buying, identification of decision points where risk evaluation is necessary.
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